Trio Petroleum acquires certain Saskatchewan heavy oil assets from NovaCor

Core Viewpoint - Trio Petroleum (TPET) has acquired heavy oil assets from NovaCor Exploration, which includes producing wells and infrastructure, aiming to enhance production and operational efficiency [1] Group 1: Acquisition Details - The acquired assets are located in west-central Saskatchewan and consist of four producing heavy oil wells and a water disposal facility [1] - Three wells are currently producing approximately 30 barrels per day, while the fourth well is expected to produce around 20 barrels per day upon resumption [1] - The acquisition price is $1,000,000 CAD, paid through the issuance of 912,875 shares of common stock [1] Group 2: Production and Operational Potential - The assets target established heavy oil intervals within the Mannville Group, including Waseca, McLaren, Sparky, and GP [1] - Trio Petroleum believes the asset base offers a combination of existing production and potential operational upside through disciplined field execution [1] - The acquisition includes necessary infrastructure and equipment to support ongoing production and field operations [1]